VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, today announces that its subsidiary Banglalink has reached an agreement with Bangladesh Telecommunications Company Limited (BTCL) for a tower sharing initiative. Kaan Terzioglu, CEO of VEON Group: “VEON’s future centers around an asset-light business model that enables us to focus on providing our customers high-quality connectivity and world-class digital services. By reducing our direct ownership of capex-intensive tower infrastructure, we can focus on these high-growth digital services, delivering greater value to our shareholders and our customers. The tower sharing agreement reached with BTCL represents another step towards implementing this strategy and follows similar deals in other operating countries.
Under the agreement, BTCL will share its tower infrastructures with Banglalink. The initiative will enhance Banglalink’s quality of services further by supporting its 4G expansion drive, ensuring energy-efficient operations and optimizing the use of Bangladesh’s national resources.
“We always welcome network sharing opportunities to serve our customers better and ensure proper utilization of resources and infrastructures.” Erik Aas, Chief Executive Officer, Banglalink said, “In the last year, we have added more than 3300 4G base stations to our network; many of these are based on shared infrastructure. We will continue to expand the network, and our partnership with BTCL will give a fresh impetus to this endeavor. We are looking forward to further sharing opportunities of passive and active telecom infrastructure in the future.”
“We are happy to enter into this partnership with Banglalink. Since last year, we have been sharing our fibers with Banglalink, achieving positive results for us both.” Stated Dr. Md. Rafiqul Matin, Managing Director, BTCL. “As a country, we have reached an impasse where infrastructure sharing can be an effective way to tackle national and global challenges. This initiative is an example of how two organizations can benefit from partnering.”